Jackson Walker represented Oilfield Water Logistics (OWL) in acquiring a portfolio of operating assets in New Mexico from a major Permian Basin oil producer, including 23 saltwater disposal wells and 300 miles of water gathering pipelines. OWL and the seller also entered into a long-term contract for water infrastructure solutions. Financial terms were not disclosed.
In a January 6, 2020, announcement, OWL Chief Executive Officer Chris Cooper said: “This acquisition complements our current operations in the Northern Delaware Basin, doubling OWL’s footprint and enhancing our capabilities and long-term value proposition for customers. E&P companies increasingly face operational and logistical challenges related to the transportation, re-use and disposal of produced water. We are proud to partner with North American producers to deliver safe, reliable and sustainable solutions that help our customers to achieve new efficiencies and best practices.”
Founded in 2014, OWL’s growing midstream water infrastructure platform in the Permian and Powder River Basins provides essential infrastructure supporting oil production across the midstream water value chain, including produced water gathering, transportation, re-use, and disposal. OWL provides long-term stability and volume predictability for its exploration and production customers and is strongly positioned to meet increasing customer demand and to further expand its footprint and service offering. OWL is a portfolio company of InstarAGF Asset Management Inc., a leading North American infrastructure manager. For more information about OWL, visit oilfieldwaterlogistics.com. For more information about InstarAGF Asset Management, visit instaragf.com.
The Jackson Walker team that represented OWL included Mario Perez Dolan, Larry E. Glasgow, Jeffrey M. Sone, Carl E. Glaze, Kirk Tucker, Ronald D. Kerridge, Steven D. Moore, Peter K. Wahl, Jonathan M. Bull, W. Bowman Givhan, Jr., and Zachary S. Fedorko.
For more information about the transaction, read OWL’s press release.
Since Jackson Walker’s founding in 1887, our attorneys have represented some of the most influential companies and business leaders in the world. Today, we remain firmly rooted in Texas while serving clients around the globe. With more than 400 attorneys across seven offices, we are the fourth-largest firm in the state and have been recognized by Law360 as a “Texas Powerhouse” and an “elite law firm” that regularly provides counsel to industry-leading clients on highly complex transactions ranging from millions to billions. To explore the Firm’s experience in mergers, acquisitions, dispositions, joint ventures, and other strategic alliances, visit the Corporate & Securities practice page.